Dear Shareholder, Update from the CEO 14 January 2013


2012 was a challenging year for Axiom, with legal issues and the tough global economic climate impacting on our progress. Against a difficult backdrop, we still made encouraging steps forward and we are well poised to make significant in-roads into all of our projects to deliver shareholder value in 2013.

Our key projects - the year in review

The Solomon Islands:

The High Court legal battle over the world-class Isabel Nickel Deposit has been our main priority this past year, and while it has been a protracted process to date, we made solid headway towards a final outcome. Pleasingly, the Court of Appeal set aside previous rulings which were adverse to Axiom and ruled that the outstanding issues be dealt with in an expedited trial in August this year. We remain confident of finally validating our rights over the Isabel Nickel Deposit.
The other major developments from our Solomon Islands operations has been the acquisition of two new super large tenements on premium ground. These assets were highly sought after by industry peers and we were hotly contested for the rights. We believe our reputation and strong local relationships placed us in good stead to come out trumps here and we are excited by the potential these projects hold.

Queensland:

Led by our newly appointed and highly experienced Exploration Manager, Mr Tom Saunders, we had a successful year with exploration activities at our Queensland operations. The exploration program was a clear success, with 75% of drill holes intersecting high-grade copper-gold mineralisation on the Cardross Mining Lease. We expect to report a maiden copper-gold Resource on the mining lease this year. Furthermore, we entered into an agreement with Solomons Copper Pty Ltd, a nearby producer, for exploration and potential mining of the oxide zone on the Cardross project. They drilled 99 percussion holes with the results due shortly.

Vietnam:

From our exploration activities over the past year, we have gained a far greater understanding of the geology and mineralisation process of our Vietnamese assets. Our geological team is now better equipped in terms of geological insight, ahead of the next exploration phase scheduled to commence after the heavy wet season in late February. From now on, exploration in Vietnam will be led by our newly appointed Exploration Manager, Mr Le Van Hai
- a highly experienced and reputable mining professional who played an integral role in the

discovery of Vietnam's two largest gold mines: Bong Mieu and Phuoc Son.

Axiom Mining Limited ARBN 119 698 770 Level 11, 1 Chifley Square, Sydney, NSW 2000, Australia

T: +61 2 9247 0169 / F: +61 2 9247 0243 / www.axiom-mining.com

Looking Forward

In anticipation of a heightened level of activity across all our projects, especially now with a more defined path in the litigation process in Solomon Islands, we have decided to relocate our head office from Sydney to Brisbane. Essentially, it makes geographical sense for us to be located closer to all of our projects. Pleasingly, key members of our senior management team are making the move to Brisbane with the Company - a gesture that shows the high level of dedication and confidence they have in Axiom and its future.
2013 promises to be a transformational year for Axiom. Our Board and management team are intently focused on delivering results that exceed expectations, outperform industry norms and maximise shareholder value. Securing our rights over the Isabel Nickel Deposits is a key goal for the coming year - so too is achieving exploration success in Vietnam and converting our Queensland prospects into commercial assets. Accomplishing these will allow our company to capitalise on other opportunities in the regions we operate - with strong local relationships already in place and an entrenched community-based approach to operations; we are in a great position to do exactly that.

Yours faithfully Ryan Mount Chief Executive Officer About Axiom Mining Limited

Axiom Mining Limited holds an 80% interest in the world class Isabel nickel deposit in the Solomon Islands, 100% in the Arosi gold-silver project in Makira Province, 93% in the Itina gold-copper project on Guadalcanal. It also owns 80% of the Quang Tri gold project in Vietnam and 100% of highly prospective gold, silver and copper tenements in North Queensland, Australia. The company is listed on the ASX and operates in Australia, Solomon Islands and Vietnam.

For more information on Axiom Mining and details of our Solomon Islands, Vietnamese and Australian projects, please refer to the company website at: www.axiom-mining.com .

Disclaimer

Statements in this document that are forward-looking and involve numerous risks and uncertainties that could cause actual results to differ materially from expected results are based on the Company's current beliefs and assumptions regarding a large numbe r of factors affecting its business. There can be no assurance that (i) the Company has correctly measured or identified all of the factors affecting its business or their extent or likely impact; (ii) the publicly available information with respect to thes e factors on which the Company's analysis is based is complete or accurate; (iii) the Company's analysis is correct; or (iv) the Company's

strategy, which is based in part on this analysis, will be successful.

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